Cato Institute Rates Hong Kong
Highest for Economic Freedom

WASHINGTON -- Hong Kong is now the consensus favorite of institutions that measure the degree of economic freedom around the world.

The Cato Institute is the latest of these groups to honor Hong Kong with a No. 1 ranking. The Washington bastion of libertarianism employs a different grading system than that used by the politically conservative Heritage Foundation for its own index of economic freedom. But the results at the top are the...